Marubeni Closes Investment in B2U Storage Solutions
～Repurposing Second Life Batteries～
Oct. 18. 2021
Marubeni Corporation (hereinafter, “Marubeni”) has successfully completed its investment in California-based B2U Storage Solutions, Inc. (hereinafter, “B2U”), one of the fastest growing U.S.-based energy storage designers and developers utilizing second life batteries.
B2U develops energy storage systems using proprietary technology to repurpose batteries from electric vehicles (hereinafter, “EV”s). This technology allows reuse of the entire EV battery pack without battery reconfiguration, at a significantly lower deployment cost and effort.
The rapid electrification of transportation sectors around the world brings the social and environmental issue of adequately repurposing or recycling used batteries. The accelerated growth of clean but intermittent solar power added to the California power grid potentially causes the issue of lower reliability due to an increasingly volatile net load (demand less renewable supply), caused by excess power supply during daylight hours and lower supply during high-demand evening hours.
In order to relieve the burden on power systems due to the introduction of renewable energy with volatile output, Marubeni, together with B2U, will strive to provide possible solutions to these issues with the EV second-life battery solutions and battery operations optimization system under development.
Through this investment and partnership with B2U, Marubeni intends to play an immediate role in achieving renewable energy objectives in California* and ultimately a clean and reliable power supply around the world. These intentions are consistent with the goal of “Contributing to low-carbon/carbon-free goals through business activities” described in “The Marubeni Long-Term Vision on Climate Change”, and will also contribute to a long-term sustainable economy.
*Renewable energy objectives in California:
Renewable energy in California is currently 30%. The state has set goals to implement 44% renewable energy by 2024, 60% by 2030, and 100% by 2045
【Energy storage facility using EV batteries】
Press Release Dated March 9, 2021
The Marubeni Long-Term Vision on Climate Change: Towards Net-Zero GHG Emissions